EvilEdna Posted January 25, 2011 Report Share Posted January 25, 2011 Shock as growth falls of a cliff: -0.5% Bang goes that interest rate hike :angry: Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 Sterling diving Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted January 25, 2011 Report Share Posted January 25, 2011 Holy shit. I love it when the unexpected happens. Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted January 25, 2011 Report Share Posted January 25, 2011 GBPUSD down 100 points instantly, GBPJPY jumps down 80 points, GBPEUR also flashing red On the positive side, public sector borrowing was not as much as predicted Quote Link to comment Share on other sites More sharing options...
EvilEdna Posted January 25, 2011 Report Share Posted January 25, 2011 Sterling diving Dropping like a tart's knickers Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 http://www.statistics.gov.uk/cci/nugget.asp?id=192 GDP growth has been revised down to 0.7 per cent in the latest quarter from 0.8 per cent previously published. GDP in the third quarter of 2010 is now 2.7 per cent higher than the third quarter of 2009. GDP Growth UK output decreases by 0.5% REvising down for Q3 to boot! Quote Link to comment Share on other sites More sharing options...
Fudge Posted January 25, 2011 Report Share Posted January 25, 2011 I expected it to be unexpected! Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted January 25, 2011 Report Share Posted January 25, 2011 So we're back in recession? Says a lot for Tory economic competence. There's going to be the need for a huge U turn on cuts and sadistic deficit slashing. Quote Link to comment Share on other sites More sharing options...
EvilEdna Posted January 25, 2011 Report Share Posted January 25, 2011 There's no way we're going to avoid another round of printing now - what a total fvcking mess. Quote Link to comment Share on other sites More sharing options...
Constable Posted January 25, 2011 Report Share Posted January 25, 2011 Holy crap, I just checked Forex thinking "Surely he means 0.5 down from 0.7 ie. 0.2%.." but no.. a walloping -1.2% drop.. I wonder if they'll be revised down later ! Two more and we're in recession right ? Though I guess they've given us a big drop this month so that we don't get another drop next month. Good news on the Public Sector Net Borrowing, 15bn down from 23bn one more and it's recession technically, although we never left recession IMO. more QE now I expect. watch the £ plummet this week. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 25, 2011 Report Share Posted January 25, 2011 Holy crap, I just checked Forex thinking "Surely he means 0.5 down from 0.7 ie. 0.2%.." but no.. a walloping -1.2% drop.. I wonder if they'll be revised down later ! Two more and we're in recession right ? Though I guess they've given us a big drop this month so that we don't get another drop next month. Good news on the Public Sector Net Borrowing, 15bn down from 23bn Have tweaked the OP - hopefully that's clearer! I double checked the Forex Factory too before posting... Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 25, 2011 Report Share Posted January 25, 2011 http://www.statistics.gov.uk/cci/nugget.asp?id=192 GDP growth has been revised down to 0.7 per cent in the latest quarter from 0.8 per cent previously published. GDP in the third quarter of 2010 is now 2.7 per cent higher than the third quarter of 2009. GDP Growth UK output decreases by 0.5% REvising down for Q3 to boot! I got confused and thought it was 0.7%. Oh well back in to recession we go then. No more interest rate rise fears Quote Link to comment Share on other sites More sharing options...
Patfig Posted January 25, 2011 Report Share Posted January 25, 2011 So we're back in recession? Says a lot for Tory economic competence. There's going to be the need for a huge U turn on cuts and sadistic deficit slashing. They might well be cut cut cutting, but what are they doing for business to help out the private sector.......... not a lot that I can see Quote Link to comment Share on other sites More sharing options...
Fudge Posted January 25, 2011 Report Share Posted January 25, 2011 Is this a double dip dippity dip dip deputy dawg? Quote Link to comment Share on other sites More sharing options...
Guest Posted January 25, 2011 Report Share Posted January 25, 2011 Some chump on Radio 4 this morning was saying that "growth will have slowed and the gdp figures would be "mildly worrying". BBC were obviously shocked and surprised by the figures.... it took 11 mins for them to get the news on their site.... Uk economy suffers Quote Link to comment Share on other sites More sharing options...
SarahBell Posted January 25, 2011 Report Share Posted January 25, 2011 It's their own fault for keeping Christmas in the middle of winter. It'd be much easier to shop for lots of presents in better weather. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 25, 2011 Author Report Share Posted January 25, 2011 I got confused and thought it was 0.7%. Oh well back in to recession we go then. No more interest rate rise fears Banks are already hiking anyway. A slowing economy means job losses and that is THE PRIMO TRIGGER of them all. Sad situation that this country has to see mass unemployment to tame the monster HPI. GBP $ 1.58168 Euro 1.16126 Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 25, 2011 Report Share Posted January 25, 2011 more QE now I expect. watch the £ plummet this week. Yep. And bizarrely enough, asking prices will probably go through the roof... Quote Link to comment Share on other sites More sharing options...
EvilEdna Posted January 25, 2011 Report Share Posted January 25, 2011 So we're back in recession? Says a lot for Tory economic competence. There's going to be the need for a huge U turn on cuts and sadistic deficit slashing. It's not normally regarded as a recession before we have two consequtive quarters of negative growth. Definitely squeaky bum time for Osborne though. Will he do an abrupt about turn? You've got to doubt it. I spy money printing. Quote Link to comment Share on other sites More sharing options...
nowthenagain Posted January 25, 2011 Report Share Posted January 25, 2011 They might well be cut cut cutting, but what are they doing for business to help out the private sector.......... not a lot that I can see I run a retail business and I wholeheartedly agree. There has been no plan by the Torys bar slashing spending. It's an ideological crusade not an economic policy. Slash and hope. Quote Link to comment Share on other sites More sharing options...
leicestersq Posted January 25, 2011 Report Share Posted January 25, 2011 GBPUSD down 100 points instantly, GBPJPY jumps down 80 points, GBPEUR also flashing red On the positive side, public sector borrowing was not as much as predicted That is a mystery. How did they manage to spend less and raise more income, on the back of a nation with falling income? Presumably there are some large seasonal factors here. Still, 15 billion is a huge amount of money to borrow in a month. £500 per working person, assuming 30 million working. How much does the average person earn, £500 a week? So every month at the moment, the government are borrowing one weeks pay off of everyone to pay the bills. And the nations GDP is falling. All this blah de blah on the media about how Cameron et al have solved the fiscal deficit problems, it gets me worried. Will those in power start believing this hype? They havent cut diddly squat so far, just cranked up the taxes and scratched the surface of a few benefits. Something has to give somewhere, and more figures like this wouldnt surprise me. Global wage arbitrage is really cutting in to the private sectors earning ability, and you cannot pump up the public sector to compensate because that is financed by the private sector. All you succeed in doing by trying to grow the public sector is divert the best workers into wealth consuming jobs as opposed to wealth creation ones. What a horrendous mess, is there no one that can lead us and face facts at the same time? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 25, 2011 Report Share Posted January 25, 2011 So we're back in recession? Says a lot for Tory economic competence. There's going to be the need for a huge U turn on cuts and sadistic deficit slashing. We need another two quarters of consecutive negative growth to be technically in recession. Quote Link to comment Share on other sites More sharing options...
Fawkandles Posted January 25, 2011 Report Share Posted January 25, 2011 Out of interest how is this calculated? This quarters change compared to the same quarter last year? Or from last quarter? Quote Link to comment Share on other sites More sharing options...
Number79 Posted January 25, 2011 Report Share Posted January 25, 2011 (edited) . Edited January 25, 2011 by richyc Quote Link to comment Share on other sites More sharing options...
exiges Posted January 25, 2011 Report Share Posted January 25, 2011 (edited) Says a lot for Tory economic competence. There's going to be the need for a huge U turn on cuts and sadistic deficit slashing. Tory competence ? No, just the fake money Labour have splurged into the market has run out, the party is over. U turn on cuts ? No, cut more waste. Edited January 25, 2011 by exiges Quote Link to comment Share on other sites More sharing options...
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